Getty Images, a world leader in visual communications, has today announced it has signed a letter of agreement to purchase the business assets of its Latin American third party distributor, operating under the name Getty Images Latin America (GILA), taking over direct operation of its business enterprises in the region.
For the past eight years, GILA has operated as one of Getty Images’ largest master delegates, building a solid base on which to support the company’s market growth plans.
The deal follows Getty Images announcement of an expanded presence in Brazil late last year and reinforces the company’s commitment to the growth of their Latin American base.
“The Latin American market is on the verge of exponential growth and presents a unique opportunity to leverage Getty Images’ expertise and resources to provide a strengthened, local offering,” said Getty Images Vice President, Latin America, Carlos Pinto. “There has been a growing demand for authentic local content from our global customer base, so we will be focused on investing in supporting the local photographer community.”
The acquisition will close in stages over the next few months.
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